What is an SMA?

In order to make life simple I have established a two Separately Managed Accounts (SMA’s – a type of managed fund) which allows Members to invest with us.

“SMA” is a bit of jargon. From your point of view consider it as a fund, a mechanism that allows us to do your stock picking for you, that effectively appoints us as your own personal fund manager.

We have invested our own money into the SMA and offer Members and non-Members the opportunity to invest alongside us. WE have two funds the Marcus Today SMA (growth focused) and the Marcus Today Income SMA.

A feature of an SMA that might interest you is that through this structure you are the beneficial owner of the underlying shares, we are simply directing traffic. You are not buying units in our fund as you might with a managed fund, you (we) are buying the individual underlying stocks beneficially in your name (they are actually held beneficially in your name by the custodian HSBC).

Unlike a managed fund that has its own tax position, using the SMA you can utilise your own tax status and collect your own franking credits, which for pension phase investors is essential. It also means that if Marcus Today went bust we have no beneficial interest in your shares. They, and your cash, are instead held by the custodian (HSBC) with you as the beneficial owner.

  • Are seeking medium to long term capital growth, with some income.
  • Are seeking an actively managed Australian equity portfolio with a relatively aggressive risk profile.
  • Prepared to accept some fluctuation in short term returns.

Join Us – it’s where we invest!   

Please- Note: Please note that the Marcus Today SMA (separately managed account) and the Marcus Today Income SMA are managed independently of the Marcus Today newsletter portfolios published in the Marcus Today newsletter under the portfolios tab. The newsletter portfolios are managed by Marcus Today staff and are hypothetical in nature. Hypothetical portfolios by definition allow a higher risk profile and more trading activity than the SMAs which are long term investment portfolios with an ASX benchmark and a more robust quality overlay. For compliance reasons the Marcus Today staff managing the Marcus Today newsletter portfolios are deliberately unaware of the SMA changes as they occur and the SMA Manager is unaware of the Marcus Today portfolio changes until they are reported in the Marcus Today newsletter. As such there can be material differences in the holdings, cash weightings, changes and timing between the SMA portfolios and the Marcus Today newsletter portfolios. If you wish to invest in the Marcus Today newsletter portfolios you will need to monitor the portfolio changes through the newsletter and manage your investments yourself, independently of the SMAs. If you wish to invest in the Marcus Today SMAs then you are in the right place.

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